- Be very clear what your objective is
- If it’s new customers: What are you offering them? Why should they join? What’s in it for them? What should your landing page say?
- Set a value on that new customer
- Eg if you can expect every new customer to stick with you for 5 years and you will earn $100 from that relationship, then the value of a new customer is $100. If 50% of them will stick with you, the value is $50
- This is your maximum allowable “Cost of Acquisition”
- Set a target
- Eg “1000 new customers”
- And decide upfront how you will measure the results (eg install tracking code on the website)
- Set a budget
- Multiple your target by your Cost of Acquisition
- If the number is unacceptable, re-adjust any of the numbers accordingly
- Hand over the project to someone who knows what they are doing
